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Stakeholder Theory, Corporate Responsibility, and the Ethics of Managerial Conduct

Easily one of the hottest and most contentious topics in the business world today is a corporate responsibility and the related issues of corporate governance and business ethics. Debates on these issues have taken on a more serious turn as a result of corporate scandals in the United States, and more recently in Europe. This paper evaluates a number of alternative approaches in dealing with this problem and attempts to identify among these an acceptable framework- one which we think allows business managers to address the interests of all stakeholders in the corporation, and yet does no violence to the classical concept of the firm as a profit-seeking entity.


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